The bill S. 307 aims to establish a framework for peer-to-peer car sharing in South Carolina by adding Chapter 36 to Title 56 of the South Carolina Code of Laws. It provides definitions related to peer-to-peer car sharing, including terms such as "shared vehicle," "car sharing period," and "car sharing program agreement." The bill outlines the responsibilities of peer-to-peer car sharing programs, including liability assumptions for shared vehicle owners during the car sharing period, insurance requirements, and the need for proper record-keeping. It also mandates that car sharing agreements disclose important information to both vehicle owners and drivers, such as insurance coverage limitations and the necessity for valid driver's licenses.

Additionally, the bill includes provisions for safety recalls, stating that shared vehicles must not be made available for sharing if they have unresolved safety issues. It specifies that peer-to-peer car sharing transactions are subject to sales taxes if applicable taxes were not paid upon the vehicle's purchase. The bill also clarifies that it supersedes any conflicting laws and empowers the Department of Insurance to create necessary regulations for its implementation. Overall, S. 307 seeks to regulate and promote safe and responsible peer-to-peer car sharing practices in South Carolina.